Number Of Nigerian Millionaires Triples

AFRICANGLOBE – Despite increasing economic hardships, the latest wealth report has indicated that the number of millionaires in Nigeria has risen to 15,400, about 305 per cent from 5,000 recorded in year 2000, when the last study on wealthy was conducted. Their combined networth is about USD150 billion (about N30 trillion). Global Wealth reporters are calculated on legitimate and registered assets within the tax net.

According to the latest research report by New World Wealth focusing on Africa’s wealthy class 2015, wealthy elite is expanding at a dramatic pace.

Forbes wealth report had put total wealth of top 15 wealthy Nigerians at about USD36 billion (about N7.2 trillion).

Though Nigeria was rated high in general economic performance emerging the largest economy in Africa, according to the ranking parameters, the 305 per cent growth rate in number of millionaires puts the country fourth position in Africa behind Angola, Ghana and Zambia which came first, second and third with percentage growth rate in number of millionaires at 482 per cent, 440 per cent and 400 per cent growth respectively.

However the number of millionaires in these countries are far less than in Nigeria with Angola, Ghana and Zambia recording 1500, 2700 and 1000 millionaires respectively.

Moreover the continents economy powerhouses Morrocco, South Africa and Algeria took distant back positions in rate of growth in number of millionaires in the continent coming 15th, 12th and 8th respectively. However the number of millionaires in these big econmies are still far much more than other countries with South Africa in predominance at 46,800 millionaires.

We are an organisation of people dedicated to the propagation and the dissemination of news and information relating to, and of importance to African Peoples worldwide. Our main objective is to provide an online portal where people of African decent; African heritage and friends of Africa can liaise and exchange knowledge and information.